Polkastarter begins the DFYN token’s ICO on Monday
The Dfyn Network’s native DFYN token ICO started today. The platform plans to raise $305,500 by selling 3,250,000 tokens at a price of $0.094.
Dfyn Network is a multi-chain AMM DEX. The team is building it to become an inter-connected AMM with nodes spread on different blockchains. As a result, those AMMs will be able to share liquidity and even enable cross-chain swaps. Dfyn is a true multi-chain AMM explicitly optimized for the cross-chain universe.
Polygon instance deployed of Dfyn is a gasless exchange where customers have to sign the transactions without any fees passed to users.
Dfyn will be able to act as a multi-chain DEX with Dfyn nodes spread across multiple Layer 1 and Layer 2 blockchains. That will allow the platform to plug into a liquidity super-mesh, simultaneously enabling customers to perform their asset trades on several blockchains from a single interface.
Furthermore, Dfyn plans to build a decentralized swap station. It will swap large assets natively like BTC, ADA, ETH, in a non-custodial way soon. Dfyn AMM will also address traditional AMM DEX issues, like impermanent loss, along with providing enhanced trader analytics.
What about the token’s IDO?
DFYN token’s public distribution process started on Polkastarter today. The team announced that only whitelisted users would be able to participate in the token’s IDO to ensure the distribution of Dfyn tokens fairly and transparently.
However, there were two whitelists. During the first round, 300 slots were available. Two hundred whitelisting slots went to Dfyn Liquidity Providers, while $ROUTE holders got 60 whitelisting slots, AMA winners took 30 whitelisting slots, and Dfyn Meme competition got ten slots.
According to Dfyn, users had to participate in this round if they wanted to participate in the whitelisting round by providing liquidity on the Dfyn exchange. They didn’t need POLS to join in the first round, but the second round will be targeted only towards POLS holders.
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